Mexico, Japan and New Zealand will lead the new Trans-Pacific Agreement

It should be noted that the so-called TIPAT came into force on December 30 for six of the 11 countries that make it up.

Mexico will be part of the three countries that lead the Trans-Pacific Partnership Progressive Integration Treaty (CPTPP), said New Zealand Trade Minister David Parker.

Image result for México, Japón y Nueva Zelanda liderarán el nuevo Acuerdo Transpacífico

In that sense the New Zealand official said that Mexico will work together with Japan and New Zealand, with the aim of promoting the agreement during the next two years, estimated time to start in a solid manner.

“We are going to form an excellent team,” said the Minister of Commerce on the occasion of his visit to our country, to strengthen ties with the new Mexican government, led by Andrés Manuel López Obrador.

It should be noted that the so-called TIPAT came into force on December 30 for six of the 11 countries that make it up, such as Australia, Canada, Japan, Mexico, New Zealand and Singapore.

In mid-January, Vietnam and Brunei, Chile, Peru and Malaysia will join once they conclude their respective legal processes and notify New Zealand as the depository of the agreement -an instrument signed on March 8-.

He argued that Mexico played a critical role in the consolidation of TIPAT, after the exit from the United States, and emphasized that this commercial instrument is of vital importance for the multilateral trading system, because it has the principles of the World Trade Organization ( WTO).

The CPTPP, which has access to a market of almost 500 million inhabitants, has the faculty to expand to other regions and “it would not be surprising” that some other nations of Asia Pacifico show their interest to integrate, he said.

The included economies represent 13.5% of the world Gross Domestic Product (GDP), with a total value that exceeded 10.6 billion dollars in 2017, according to data from the Ministry of Economy (SE).

For his part, the president of the International Section for Asia and Oceania of the Mexican Business Council for Foreign Trade (Comce), Sergio Ley López, welcomed the above and agreed that the CPTPP is a strategic tool to confront protectionism.

On the other hand, the Minister of Commerce said that in the agricultural, electronic, technology and automotive manufacturing sectors there is much potential to grow commercial exchange.

Only in recent years have Mexican vehicle exports to New Zealand increased by nearly 200%, which offers a “promising future” for the economy, he added.

Source: Notimex

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